Artificial Intelligence In Fashion Market Size to Hit US$ 4,391.7 Mn by 2027

Artificial Intelligence In Fashion Market to 2027 - Global Analysis and Forecasts by Offerings (Solutions and Services); Deployment (On-premise and Cloud-based); Application (Product Recommendation, Virtual Assistant, Product Search and Discovery, Creative Designing and Trend Forecasting, Customer Relationship Management, and Others); End-User Industry (Apparel, Accessories, Cosmetics, and Others)

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The availability of a large amount of data originating from different data sources is one of the key factors driving the growth of AI technology across the fashion industry. The proliferation of easy availability of the internet, smart devices, the advancement of technology, and others are some of the major reasons for the exponential increase in data generation. The RFID and Bluetooth implementation to locate products and gather information is also increasing exponentially in the fashion industry. Moreover, the voice-enabled chatbots such as Amazon Alexa and Apple Siri are continuously generating an enormous amount of data every second. By using these conversational solutions, fashion brands collect data by asking customer's requirements, trends, and diving deeper into the purchase pattern.

Companies Mentioned:
• Adobe Inc.
• Alphabet Inc. (Google)
• Amazon.com, Inc.
• Catchoom
• Facebook Inc.
• Huawei Technologies Co., Ltd.
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• SAP SE

This evolution in digitization presents a huge opportunity for fashion businesses to utilize the huge volumes of user/process data to gain useful insights. The paradigm shifts of fashion companies embracing digitalization has reaped greater benefits for the enterprises and resulted in more revenue generation opportunities. Also, with the advancement in computing and storage technology, computing power has increased multi-fold during the last decade. This has created new opportunities for managing and computing the big sets of data, and when coupled with AI technology, useful business and customer insights can be gained. With AI applications like machine learning and deep learning, fashion companies have a tremendous opportunity to harness the data available for useful insights and thus increasing their revenue.

Global Artificial Intelligence in Fashion Segments:
Artificial Intelligence in Fashion Market - By Offerings
• Solutions
• Services

Artificial Intelligence in Fashion Market - By Deployment
• On-premise
• Cloud-based

Artificial Intelligence in Fashion Market - By Application
• Product Recommendation
• Virtual Assistant
• Product Search and Discovery
• Creative Designing and Trend Forecasting
• Customer Relationship Management
• Others

Artificial Intelligence in Fashion Market - By End-User Industry
• Apparel
• Accessories
• Cosmetics
• Others

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Market Insights
Introduction of Natural Language Programming (NLP) to fashion industry are huge opportunity for AI in fashion vendors

NLP offers high-efficiency human experience and makes highly interactive chatbots. Vendors have a huge opportunity to improve their services by implementing NLP to its solutions. In the fashion industry, and NLP has capabilities to offer great help to fashion and apparel websites by filtering the majority of customer's issues and send it to different customers to clarify the issues.
Business is taking efforts for better understanding and implementation of NLP. NLP's are capable of handling the number of systems that work together to handle end-to-end interactions between machines and humans. This technology enables users to interact more naturally. Business is making huge investments in developing NLP enabled solutions for the fashion industry. For instance, Zalando SE, Germany based fashion company implemented the NLP model to its website based on PyTorch and Python.

Key Elements that the report acknowledges:
• Growth rate and market size over the analysis timeframe.
• Key factors stimulating and hindering market expansion.
• Leading vendors and suppliers of the market.
• Exhaustive SWOT analysis of each company.
• Detailed PEST analysis by region.
• Opportunities and threats faced by the existing vendors in Artificial Intelligence In Fashion market.
• Strategic initiatives undertaken by leading players.

Additionally, the report includes an exhaustive analysis of the market and concludes with precise estimates of the revenue generation by each segment, country, region and company. Every detail that might prove to be essential for making strategic decisions is mentioned along with solutions and suggestions from expert analysts. Each segment of the market is studied extensively to provide reliable knowledge for supplementary market investments.

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This release was published on openPR.